EXHIBIT 12
CROWN CASTLE INTERNATIONAL CORP.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN THOUSANDS)
| Years Ended December 31, | |||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||
| Computation of earnings: | |||||||||||||||||||
| Income (loss) before income taxes | $ | 292,529 | $ | 100,827 | $ | 179,807 | $ | (338,105 | ) | $ | (190,523 | ) | |||||||
| Add: | |||||||||||||||||||
| Fixed charges (as computed below) | 762,657 | 727,472 | 620,871 | 600,295 | 551,288 | ||||||||||||||
| Subtract: | |||||||||||||||||||
| Interest capitalized | (1,832 | ) | (2,335 | ) | (265 | ) | — | — | |||||||||||
| $ | 1,053,354 | $ | 825,964 | $ | 800,413 | $ | 262,190 | $ | 360,765 | ||||||||||
| Computation of fixed charges and combined fixed charges and preferred stock dividends and losses on purchases of preferred stock: | |||||||||||||||||||
| Interest expense | $ | 491,041 | $ | 491,184 | $ | 404,968 | $ | 406,222 | $ | 386,447 | |||||||||
| Amortized premiums, discounts and capitalized expenses related to indebtedness | 98,589 | 109,860 | 102,883 | 84,047 | 59,435 | ||||||||||||||
| Interest capitalized | 1,832 | 2,335 | 265 | — | — | ||||||||||||||
| Interest component of operating lease expense | 171,195 | 124,093 | 112,755 | 110,026 | 105,406 | ||||||||||||||
| Fixed charges | 762,657 | 727,472 | 620,871 | 600,295 | 551,288 | ||||||||||||||
| Dividends on preferred stock and losses on purchases of preferred stock | 11,363 | 2,629 | 22,940 | 20,806 | 20,806 | ||||||||||||||
| Combined fixed charges and preferred stock dividends and losses on purchases of preferred stock | $ | 774,020 | $ | 730,101 | $ | 643,811 | $ | 621,101 | $ | 572,094 | |||||||||
| Ratio of earnings to fixed charges | 1.4 | 1.1 | 1.3 | — | — | ||||||||||||||
| (Deficiency) excess of earnings to cover fixed charges | $ | 290,697 | $ | 98,492 | $ | 179,542 | $ | (338,105 | ) | $ | (190,523 | ) | |||||||
| Ratio of earnings to combined fixed charges and preferred stock dividends and losses on purchases of preferred stock | 1.4 | 1.1 | 1.2 | — | — | ||||||||||||||
| (Deficiency) excess of earnings to cover combined fixed charges and preferred stock dividends and losses on purchases of preferred stock | $ | 279,334 | $ | 95,863 | $ | 156,602 | $ | (358,911 | ) | $ | (211,329 | ) | |||||||